New Home Sales for June increased by 23.6% to a 330,000 annual pace, following a 267,000 pace in May, revised downwards from 300,000. Over the year New Home Sales are down 16.7% from 396,000 in June of 2009. The median sales price was $213,400 and the average sales price was $242,900. The estimate of new houses for sale at the end of June was 210,000, representing a supply of 7.6 months at the current sales rate.

Upcoming Releases

Consumer Confidence (07/27 at 10:00 AM EST)
Durable Orders (07/28 at 8:30 AM EST)
Crude Inventories (07/28 at 10:30 AM EST)
Fed’s Beige Book (07/28 at 2:00 PM EST)

Zacks Investment Research